Indian research and insights industry grows 10.9 percent to Rs 29,008 cr in FY2025

Market Research Society of India's (MRSI), report ‘The Indian Research & Insights Industry 2025 Update’, highlights the industry’s continued momentum, with the sector reaching INR 29,008 crores(USD 3.5 Bn) in FY2025, registering a 10.9% increase from INR 26,300 crores (USD 3.2 Bn) in FY2024. The growth signals a transition towards a more mature and diversified research and insight market, characterised by broader access to analytics services and evolving trends in manufacturing and consumer demand, much in line with India’s robust GDP growth, making way for innovation, adaptation, and collaborations.

Segmented into three core service lines, Analytics continues to be the largest and fastest-growing segment, accounting for nearly 60% of the market, with over 90% of demand driven by international clients. The segment grew by 14% in FY2025, fuelled by increased adoption of predictive modelling, customer lifetime value analysis, and econometrics. While traditional services like social media and web analytics have matured, digital platforms, cloud infrastructure, and AI-driven solutions now enable greater scalability, with Agentic AI powering autonomous, real-time insights and continuous optimisation.

Custom Market Research recorded an 8% growth, with specialised services such as consumer experience research gaining traction through techniques like facial coding, eye tracking, and emotional response monitoring. Similarly, Syndicated Research grew by 6%, witnessing a modest rebound led by manufacturing-focused clients and increased outsourcing of research mandates to India-based captive centres. However, the segment continues to navigate challenges in media measurement, as traditional television metrics face pressure amid accelerating adoption of digital and streaming platforms.

Speaking on the industry’s growth, Nitin Kamat, Chief Growth & Partnerships Officer, TAM Media Research and President at Market Research Society of India, said, “The Indian research and insights industry is entering a phase of maturity, where growth is driven less by volume and more by value. In alignment with Hon. Prime Minister Narendra Modi’s vision of Viksit Bharat 2047, which emphasises innovation, advanced capabilities and strategic value creation across sectors - the industry is gearing up to work alongside India Inc. to fuel progress. The shift from traditional data delivery to integrated, AI‑enabled insights helps businesses act with speed and precision. Looking ahead, we expect the industry to evolve towards deeper adoption of advanced analytics and agentic AI, enabling India to lead in delivering actionable strategic intelligence on the global stage."

Mitali Chowhan, Director General at Market Research Society of India, further added, “Despite global uncertainties, the Indian Research & Insights industry continues to demonstrate resilience and relevance. The steady double-digit growth reflects increasing trust in data-driven decision-making across sectors. With rising digital maturity, hyperlocal insight needs, and growing international mandates, India is well placed to shape the future of insight-led transformation globally.”

Looking ahead, the industry is expected to sustain a steady growth trajectory of approximately 10% in FY2026, despite global economic headwinds and geopolitical uncertainties. Growth will be driven by rising international demand for integrated insight delivery, as clients increasingly seek to synthesise diverse data sources, leverage AI for deeper analysis, and access faster, more tailored intelligence. The expansion of global companies’ operations and captive centres in India will further strengthen international mandates, while the domestic market will benefit from growing digital maturity and rising demand for hyperlocal insights. Increased investment in brand strategy across non-CPG sectors, a revival in strategic B2B research linked to manufacturing and automotive growth, and the expanding role of SMEs relying on research to guide competitive decision-making are expected to collectively accelerate industry momentum.